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Inventia Healthcare files draft papers with Sebi to raise Rs 4.5 bn via IPO

The initial public offer (IPO) is expected to fetch Rs 4.5 billion

Topics
Inventia Healthcare  |  Sebi

Press Trust of India  |  New Delhi 

Initial Public Offer
Representative Image (Photo: Shutterstock)

has filed draft papers with capital markets regulator to raise an estimated Rs 4.50 billion through an initial public offering.

The IPO comprises fresh issuance of equity shares worth up to Rs 1.25 billion, besides, an offer of sale up to 31,64,000 scrips by promoters and other shareholder, according to the draft red herring prospectus (DRHP) filed with

In the offer for sale, promoters --- Janak Shah and Maya Shah -- and private equity fund Jacob Ballas (rpt) Ballas will sell shares. Proceeds of the issue will be used for payment of outstanding borrowings availed by the company and for other general corporate purposes. "Our company intends to strengthen its capital base and expects to receive the benefits of listing of its equity shares on the stock exchanges, including among other things, enhance our visibility and provide liquidity to our shareholders," the firm noted. The initial public offer (IPO) is expected to fetch Rs 4.50 billion, merchant banking sources said. ICICI Securities and Centrum Capital will manage the company's initial share-sale and the equity shares of the firm will be listed on the BSE and NSE.

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First Published: Fri, September 21 2018. 14:35 IST
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